Tech stocks rose Friday afternoon, with the Technology Select Sector SPDR Fund (XLK) up 0.3% and the SPDR S&P Semiconductor ETF (XSD) adding 0.5%.

The Philadelphia Semiconductor index was little changed.

In corporate news, Applied Materials (AMAT) shares fell 6.8%, a day after it issued a downbeat fiscal Q2 revenue outlook at the midpoint amid the impact of US restrictions on exports to China.

Meta (META) is planning major investments into AI-powered humanoid robots, Bloomberg reported. Meta shares were rising 1.3%.

Nvidia (NVDA) has reduced its holdings in Arm (ARM) by around 44%, Nvidia said in a regulatory filing Friday. Nvidia also divested all of its stakes in medical imaging specialist Nano-X Imaging (NNOX), robot maker Serve Robotics (SERV), and voice AI company SoundHound AI (SOUN). Nvidia reported new holdings in Q4 2024, including almost 1.2 million shares in AI-focused company Nebius (NBIS) and about 1.7 million shares in Chinese autonomous driving tech firm WeRide (WRD). Arm shares dropped 4.6%, Serve Robotics shares sank 43%, SoundHound fell 30%, and Nano-X Imaging slid 11%. WeRide shares rose 75% and Nebius shares were up 6.5%.